Dec, 31, 2023 — MEMORIAL CREDIT UNION is a federally insured state chartered credit union headquartered in CHATTANOOGA, TN with 1 branch location and about $8.05 million in total assets. Opened 65 years ago in 1959, MEMORIAL CREDIT UNION has about 1,351 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMORIAL CREDIT UNION |
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Address: (Main Office) | 6800 Longview Rd CHATTANOOGA, TN 37421 |
Phone: | (423) 855-1770 |
Fax: | (423) 855-0963 |
Website: | https://www.memorialcreditunion.com |
Branches: | 1 branch locations |
Members: | 1,351 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63802 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,051,558 |
CEO/Manager: | Jennifer Ferris |
Chairperson: | Terry Taggart |
ASSETS: | $ Amount |
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Cash & Equivalents | 444,580 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 547 |
Unsecured Loans | 543,980 |
Other Loans | 4,474,492 |
TOTAL LOANS | 5,019,019 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,316 |
Land And Building | 370,866 |
Other Fixed Assets | 22,366 |
NCUSIF Deposit | 70,747 |
All Other Assets | 0 |
TOTAL ASSETS | 8,051,558 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 300,285 |
Accounts Payable & Other Liabilities | 15,255 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 615,461 |
Regular shares | 5,880,386 |
All Other Shares & Deposits | 228,150 |
TOTAL SHARES & DEPOSITS | 6,723,997 |
TOTAL LIABILITIES | 7,039,537 |
Regular Reserve | 0 |
Other Reserves | 598,196 |
Undivided Earnings | 413,825 |
TOTAL EQUITY | 1,012,021 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,051,558 |
INCOME & EXPENSE | |
Loan Income | 252,156 |
Investment Income | 44,819 |
Other Income | 50,944 |
Total Employee Compensation & Benefits | 249,760 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 181,937 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -5,259 |
Cost of Funds | 12,008 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -55,808 |
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